Four former directors of the branch in Spain of the largest bank in the world, the Chinese ICBC , have agreed with Anticorruption to pay a total fine of 22.7 million euros to lower their sentence for money laundering and evade effective entry into prison. The agreement was reached on Monday before the Second Section of the National Court , where the accused acknowledged the account of criminal acts presented by the prosecutor Teresa Gálvez .

The collaboration of the accused and, after them, that of the financial institution has meant that the final sentences range from three to five months in prison when applying the highly qualified mitigation of confession. As for the fine, the 22,729,158, 71 euros have already been paid into the court account.

Anticorruption explains that he presented an accusation "against those responsible for ICBC for the permanent and continued disregard of the due diligence measures of Spanish and European legislation for the prevention of money laundering." The heads of the bank accepted "millionaire remittances of cash, without verifying their

origin and facilitating their income and fractional transfers to China, which were thus hidden from the inspection, monitoring and control of the Bank of Spain , the Aeat and the Sebplac . "

In the investigation of the National Court, the European subsidiary of the Industrial and Commercial Bank of China , with headquarters in Luxembourg, came to be imputed as a legal person , but finally the investigation focused solely on the actions of managers and employees in Spain.

The case was opened in 2016 and it has investigated the alleged laundering of 90 million euros from the Chinese mafias between 2011 and 2014, through the collection of cash from nationals of that country, who physically came carrying the remittances in backpacks, bags and boxes. They paid in their companies' accounts or in their personal accounts, reports Efe.

According to the investigation, the ICBC Spain office functioned as a channel for the laundering of illicit income that originated in tax fraud and smuggling of criminal organizations investigated in operations such as Emperor , Snake and Toys . The entity tried to hide the massive payments in accounts, dividing the amounts to avoid having to declare them when they were sent outside of Spain.

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